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<br />FXS:d";~ 11/20/96 <br /> <br />(009/72) <br /> <br />Hundred <br /> <br />Seventy-nine <br /> <br />Thousand <br /> <br />Five <br /> <br />Hundred <br /> <br />Sixty <br /> <br />and <br /> <br />No/I00 <br /> <br />Dollars <br /> <br />($279,560.00) <br /> <br />unless the performance of services and/or <br /> <br />reimbursement of costs and expenses <br /> <br />in excess of said amounts <br /> <br />have <br /> <br />been <br /> <br />approved <br /> <br />in advance <br /> <br />of performing <br /> <br />such <br /> <br />services <br /> <br />or <br /> <br />incurring <br /> <br />such <br /> <br />costs <br /> <br />and <br /> <br />expenses <br /> <br />by <br /> <br />Cityls <br /> <br />City <br /> <br />Council, <br /> <br />evidenced by motion duly made and carried; <br /> <br />provided, <br /> <br />however, <br /> <br />that in the event that the Final Agreed Price, <br /> <br />as hereinafter <br /> <br />defined, is less than 90%, or more than 110% of the fee basis of <br /> <br />One <br /> <br />Million <br /> <br />Six <br /> <br />Hundred <br /> <br />Thousand <br /> <br />and <br /> <br />No/I00 <br /> <br />Dollars <br /> <br />($1,600,000.00) , <br /> <br />as <br /> <br />set <br /> <br />forth <br /> <br />in <br /> <br />CM/GCls <br /> <br />response <br /> <br />submitted <br /> <br />November 7, <br /> <br />1996 <br /> <br />to City I S Request for Qualification/Proposal, <br /> <br />(i) <br /> <br />an amount equal to 8% of any amount less than 90% of One <br /> <br />Million Six Hundred Thousand and No/I00 Dollars <br /> <br />($1,600,000.00) <br /> <br />shall be deducted from the above fee, or (ii) an amount equal to <br /> <br />8% of any amount above 110% of One Million Six Hundred Thousand <br /> <br />and No/I00 Dollars ($1,600,000.00) shall be added to said fee, as <br /> <br />the case may be. <br /> <br />Compensation <br /> <br />and <br /> <br />reimbursement <br /> <br />of <br /> <br />costs <br /> <br />and <br /> <br />expenses <br /> <br />hereunder shall be payable upon monthly billing therefor by CM/GC <br /> <br />to <br /> <br />City, <br /> <br />which <br /> <br />billing <br /> <br />shall <br /> <br />include <br /> <br />an <br /> <br />itemized <br /> <br />statement, <br /> <br />describing in detail the work performed by CM/GC on an hourly <br /> <br />basis, by task and labor category or cost/expense items billed. <br /> <br />(b) <br /> <br />Payment to CM/GC; Final Agreed Price. <br /> <br />The Final Agreed <br /> <br />Price (the "FAP") <br /> <br />for the Project shall consist of the following <br /> <br />three <br /> <br />elements: <br /> <br />(1 ) <br /> <br />the <br /> <br />sum of all <br /> <br />bids <br /> <br />from <br /> <br />subcontractors <br /> <br />(including CM/GC to the extent that CM/GC is awarded any <br />subcontract for physical work at the Project based upon the <br />competitive bid process applicable to subcontractors) (the <br /> 3 <br />